By Bob Stark, Agricultural Economist
Over the extended weekend for Veterans Day holiday, the Arkansas 2017 New Crop Soybean Market suffered a 5 cent weekend loss and opened on the past Monday at $9.45, an 11 cent decline from the previous Monday opening price. The market moved 6 cents lower on Tuesday before establishing an upward trend to close the week. The Friday closing statewide average was $9.66, an overall gain of 16 cents for the week compared to the previous Friday closing mark (Figure 1). High daily individual market price of the past week was $9.90 at Osceola on Friday. The low quote of the week was $9.21 at both Jonesboro and Des Arc on Tuesday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.51 at Wynne to the high of $9.90 at Osceola. The ending quotes represented a range of 39 cents, a 2 cent widening from the previous week closing range. Twelve individual markets are now providing price quotations as the Pine Bluff market rejoined the group during this past week.
The Agricultural Marketing Service of USDA began listing price quotes for No. 1 Yellow Soybeans New Crop on Wednesday. A further explanation of these new quotes will be provided in the next weekly report.
(Market average prices stated in this report are unweighted averages of the state markets surveyed by NASS. Price data was based on USDA LR GR111 Arkansas Daily Grain Reports.)